Half Year Report for the six months to 30 Sept 2021

HALF YEARLY REPORT
to 30 September 2021
www.newtalisman.co.nz

2 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 3
REPORT TO THE SHAREHOLDERS OF
NEW TALISMAN GOLD MINES LTD
Half year ended 30 September 2021
Recent months have without doubt been a
turbulent time for the Company. Shareholder
sentiment from the Annual Shareholder Meeting
took effect with the departure of the Executive
Director, Chairman, and other Directors along
with the appointment of the new board. These
events have largely overshadowed all of the
activities that the Company has undertaken in
the last nine months. The new Board, Chaired
by newly elected member John Upperton and
including post Annual Shareholder Meeting
appointees Michael Stiassny and Samantha Sharif,
along with Victor Rabone, set as their first priority
stabilising the Company. They then reviewed the
Company objectives and reprioritising objectives
to drive the Company forward. In the first month
the Board has had to focus on a number of issues
which we outline here.
The Board has been tasked with answering a
number of regulatory questions pertaining to the
previous administration, preparing the half yearly
accounts (for a period when the new Board was
not involved) and are now engaged in devising
a future strategy which will be shared with the
market once concluded.
As stated in a release dated 13 October 2021
NTL gave notice of termination to Asia Pacific
Capital Group Ltd’s management contract. On 28
October 2021, NTL received a significant claim by
Matthew Hill, asserting employment status. NTL
refutes the claims made by Mr Hill.
An agreement to purchase Broken Hills Historic
Gold Mine was signed in late September, by the
previous Board, with the condition that the Mining
Permit be transferred by NZPAM prior to 31
December 2021. It became apparent to the new
Board that this condition could not be fulfilled
and the decision to terminate the agreement was
announced to the market in November, along with
the shelving of a listing for subsidiary Coromandel
Gold Ltd.
During the period the previous Board signed
the Vanuatu Capella exploration acquisition and
the exploration licence has been subsequently
renewed with the Vanuatu government. The
current NTL Board is reviewing the transaction.
The Board has set aside any capital raise until it
has concluded its strategic framework and looks
forward to delivering value to shareholders by
unlocking the Company’s potential.

4 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021
BOARD OF DIRECTORS

MR JOHN UPPERTON
Chairman and Independent Director
Mr Upperton has a background in both Commercial and Residential Construction Project Management.
Alongside these projects, Mr Upperton has garnered considerable experience in aspects of the RMA
and District Planning requirements, including successfully representing himself in Environment Court.
Mr Upperton has 16 years’ experience as Managing Director of a Limited Company. He has served on
and chaired several community organisations over a 25 year period.
Mr Upperton has also previously held a senior management role for one of NZ’s leading Manuka Honey
producers, being responsible for the negotiation and placement of bee hives across the North Island
involving more than 300 landowners.
Mr Upperton was appointed to the Board on 29 September 2021.
MR MICHAEL STIASSNY, LLB, BCom, FCA, CFInstD
Independent Non-executive Director
Michael is a Chartered Fellow of The Institute of Directors in NZ (Inc) (CFInstD) and is also past President
of the Institute of Directors. He is a Fellow of Chartered Accountants Australia and New Zealand (retired).
He has both a Commerce and Law degree. Mr Stiassny is currently Chairman of Tower Insurance and
Ngati Whatua Orakei Whai Rawa Limited, and a director of a number of other companies.
Mr Stiassny was appointed to the Board on 1 November 2021.
MS SAMANTHA SHARIF, LLB(Hons), LLM(Hons), Grad Dip CSP, CMInstD
Independent Non-executive Director
Samantha Sharif is a Professional Director with extensive leadership experience in infrastructure,
resources, safety critical industries, as well as investment and capital markets. Ms Sharif is an
experienced Board and Board Committee Chair, and a Chartered Member of the Institute of Directors.
Samantha has experience as a CEO and has also practised as a senior commercial lawyer, with
post-graduate legal and finance qualifications. Current governance roles include: SIL/MFL Mutual Funds
– Director, NZ Shareholders Association – Deputy Chair, Motor Trades Association Group – Director,
Chair of Audit & Risk Committee, Chair of Investment Committee, Museum of Transport & Technology
(MOTAT) – Director, Dept of Corrections Audit & Risk Committee – External Member
Ms Sharif was appointed to the Board on 1 November 2021.

MR VICTOR RABONE, BE(Civil Engineering)
Director
Mr Rabone is a Geotechnical Engineer with over 20 years of operational experience in all facets of mining
gained in New Zealand and internationally. He has specialised expertise in hard rock underground mining.
Victor’s experience includes feasibility analysis, management of operations, geotechnical stability
analysis, ground support design and installation, drill and blast tunnel development, rail haulage
system’s design and installation, mineral processing, refining and environmental management.
Victor holds a number of certifications required to manage a hard rock underground gold mining
operation including Controlled Substance License, Handlers Certificate for blasting, he holds an A
Grade Tunnel Manager certification and a Site Senior Executive qualification.
Victor has in recent years been dedicated fulltime to the planning and development of the Broken Hills
Gold Mine in the Puketui valley, Coromandel Peninsula .
Victor is a member of a number of professional organisations; Engineering NZ, NZ Geomechanics
Society, NZ Tunnelling Society and the Railway Technical Society of Australasia.
Victor has had experience in the project management of a variety of construction activities such as
installation of screw piles, seismic reinforcement using stone columns, geotechnical drilling programmes,
alluvial mining operations and underground mining and tunnelling projects.
Ms Rabone was appointed to the Board on 13 September 2021.

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 5

6 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021
NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Financial Position
As at 30 September 2021
Note
30-Sep-21
$NZ
Unaudited
31-Mar-21
$NZ
Restated
Audited
30-Sep-20
$NZ
Unaudited
Equity
Attributable to parent company shareholders15,244,25015,133,90515,538,711
Term liabilities
Long term lease liabilities
Provision for closure and rehabilitation
9
28,775
33,794
41,305
32,215
-
32,215
Total term liabilities62,56973,52032,215
Current liabilities
Payables
Short term lease liabilities9
150,347
24,751
132,577
24,141
100,814
-
Total current liabilities175,098156,718100,814
Total liabilities237,667230,238133,029
Total equity and liabilities 15,481,91715,364,143 15,671,740
Current assets
Cash955,8531,110,6951,869,706
Inventories5314,275314,275-
Receivables and prepayments205,405100,368144,283
Total current assets1,475,5331,525,3382,013,989
Non-current assets
Property, plant & equipment178,632191,388207,122
Assets under construction1013,625,92213,385,41313,428,865
Right of use assets952,43864,539-
Intangible assets7119,32911,63711,637
Investments830,063185,82810,127
Total non-current assets14,006,38413,838,80513,657,751
Total assets15,481,91715,364,14315,671,740
Net tangible assets per security0.48 cents0.55 cents0.56 cents
For and on behalf of the Board:

J K Upperton S H Sharif
Dated: 10 December 2021 Dated: 10 December 2021
This statement is to be read in conjunction with the accompanying notes and the previous year’s annual
financial statements.

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 7
NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Comprehensive Income
For six months ended 30 September 2021
Continuing Operations
Note6 Months
30-Sep-21
$NZ
Unaudited
6 Months
30-Sep-20
$NZ
Unaudited
Revenue--
Cost of sales of goods
5
--
Gross Profit
--
Interest received232882
Gain/(Loss) on share revaluation8,7064,545
Operating and administrative expenses546,367406,628
Loss from operations (537,429)(401,201)
Loss before tax for the period(537,429) (401,201)
Income tax expense--
Total comprehensive income/(loss) --
Net loss attributable to equity holders of the parent(537,429)(401,201)
Comprehensive loss attributable to equity holders of
the parent(537,429)(401,201)
(537,429)(401,201)
Earnings per share
Basic earnings/(loss) per share from continuing
operations
Comprehensive earnings/(loss) per share from
continuing operations(0.017) cents(0.014) cents
NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Changes in Equity
For six months ended 30 September 2021
Note6 months
30-Sep-21
$NZ
Unaudited
6 months
30-Sep-20
$NZ
Unaudited
Total comprehensive income/(loss)(537,429)(401,201)
Prior Year Adjustment4(314,275)-
Proceeds from share capital issued6647,774-
Equity at beginning of period15,448,18015,939,912
Equity at end of period15,244,25015,538,711
This statement is to be read in conjunction with the accompanying notes and the previous year’s annual
financial statements.

8 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021
NEW TALISMAN GOLD MINES LIMITED
Consolidated Statement of Cash Flows
For six months ended 30 September 2021

Note
6 months
30-Sep-21
$NZ
Unaudited
6 months
30-Sep-20
$NZ
Unaudited
Cash flows from operating activities
Cash inflows232882
Cash outflows(502,367)(358,579)
Net cash outflows from operating activities
11(502,135)(357,697)
Cash flows from investing activities
Cash inflows--
Cash outflows(298,585)(280,615)
Net cash (outflows)/inflows from investing
activities(298,585)

(280,615)
Cash flows from financing activities
Cash inflows6647,774-
Cash outflows(10,341)-
Net cash inflows from financing activities637,4333,625,522
Net (decrease) / increase in cash and cash
equivalents held(163,287)(638,312)
Effect of changes in exchange rates8,44512,300
Cash and cash equivalents at beginning of period1,110,6952,495,718
Cash and cash equivalents at end of period955,8531,869,706
CASH COMPRISES:
Cash at bank850,8531,764,706
Short term deposits105,000105,000
955,8531,869,706
This statement is to be read in conjunction with the accompanying notes and the previous year’s annual
financial statements.

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 9
NEW TALISMAN GOLD MINES LIMITED
Notes to the interim financial statements
1. General
New Talisman Gold Mines Limited is a profit-oriented company incorporated and domiciled in New
Zealand, registered under the Companies Act 1993 and listed on the New Zealand Stock Exchange
(NZX) and the Australian Stock Exchange (ASX).
The company is an FMC reporting entity for the purposes of the Financial Markets Conduct Act 2013
and the financial statements of the group have been prepared in accordance with the Financial Markets
Conduct Act 2013 and comply with NZX Listing Rule 10.6.1. The group consists of New Talisman Gold
Mines Limited (the “company”) and its subsidiaries (“Group”) and these financial statements are the
consolidated financial statements of the Group. The Group is engaged in mine development and
mineral exploration.
These financial statements were approved for issue by the Directors on 10 December 2021.
Statement of compliance
These interim consolidated financial statements presented are for New Talisman Gold Mines Limited
and its wholly-owned subsidiaries, Coromandel Gold Limited, Critical Mineral Resources Limited and
Rahu Resources Pty Limited (“Group”). The information is presented in New Zealand currency which is
the company’s functional currency. The interim financial statements are condensed in accordance with
NZ IAS-34, Interim Financial Reporting. These consolidated financial statements have not been audited.
The comparative information for the year ended 31 March 2021 has been audited. The comparative
information for the six-month period ended 30 September 2020 has not been audited.
2. Accounting policies
The accounting policies and methods of computation adopted in the preparation of these financial
statements are the same as those adopted in the preparation of the annual financial statements for the
year ended 31 March 2021. Those policies are set out in the annual report for the year ended 31 March
2021. There have been no changes to those accounting policies.
3. Seasonality of operations
The results are unaffected to any significant extent by seasonality factors.
4. Prior period adjustment
Subsequent to the publishing of the year ended 31 March 2021 financial statements, an adjustment to
the financial statements was made. Net changes in gold inventories held by New Talisman Gold Mines
Limited had previously been recorded against sundry income and not as cost of sales. Furthermore, no
exploration costs had been released to the Statement of Comprehensive Income as costs attributed
to acquiring the inventories but had been capitalised. $314,275 of mining development costs were
expensed to the Statement of Comprehensive Income. The changes to the prior period comparatives
are as follows:
Statement of Comprehensive Income
Group
2021
Original
Group
2021
Restated
Continuing operations
Revenue--
Cost of sales of goods *--
Gross Profit
--
Other operating income247,7182,973
Operating and administrative expenses(763,892)(763,892)
Gain/(loss) from operations
(516,174)(760,919)
Finance costs(1,483)(1,483)
Net profit/(loss) for the year
(517,657)(762,402)

10 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021
Statement of Changes in Equity – Changes Only
Group
2021
Retained
Earnings
Original
Group
2021
Retained
Earnings
Restated
Profit/(Loss)(517,657)(762,402)
Prior period adjustment-(69,530)
Equity at beginning of year(22,250,534)(22,250,534)
Equity at end of year(22,768,191)(23,082,466)
Balance Sheet – Changes only
Group
2021
Original
Group
2021
Restated
Equity – Attributable to parent company shareholders
15,448,18015,133,905
Current Assets
Inventories-314,275
Receivables and prepayments414,643100,368
Non-current assets
Assets under construction13,699,68813,385,413
Total assets15,678,41815,364,143
There are no other changes to the prior period comparatives.
5. Inventories
Cost of sales of goods6 months
30-Sep-21
$NZ
6 months
30-Sep-20
$NZ
Opening inventories--
Prior Period Adjustment (refer to note 4)314,275-
Current year mining exploration costs released (refer to note
10)
--
Less closing inventories(314,275)-
Total cost of sales of goods--
The cost of inventories is an accumulation of costs in relation to ore drilled but not yet processed.

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 11
6. Share Capital
Share Capital Movement6 months
30-Sep-21
$NZ
6 months
30-Sep-20
$NZ
Share Capital Opening balance38,216,37138,216,371
Proceeds from Rights issues1,047,774-
Cancellation from Rights issued (refer to note 8)(400,000)-
Balance at end of period39,264,14538,216,371
At balance date 3,127,225,363 shares and 17,036,384 listed options were on issue.
7. Intangible Assets
Prospecting costs & mining tenements6 months
30-Sep-21
$NZ
Year ended
31 Mar 21
$NZ
6 months
30-Sep-20
$NZ
Opening balance11,63711,63711,637
Development expenditure---
Impairment of Prospecting Costs---
Balance at end of period11,63711,63711,637
Goodwill6 months
30-Sep-21
$NZ
Year ended
31 Mar 21
$NZ
6 months
30-Sep-20
$NZ
Opening balance---
Additions107,692--
Amortisation Charge---
Impairment of Goodwill---
Balance at end of period107,692--
Total Intangible Assets119,32911,63711,637
The goodwill has arisen from the acquiring of a business combination associated with the acquisition
of the shares in Capella Vanuatu Limited which was completed during the period. Management has
assessed the above costs and believed that these costs are representative of its fair value and thus, no
amortisation of goodwill has been recorded.

12 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021
8. Investments
6 months
Sep 2021
$NZ$
Unaudited
6 months
Sep 2020
$NZ
Unaudited
Investment in listed companies – at fair value30,06310,127
Investment in unlisted companies – at cost value--
Total share investments542,42910,127
As announced on 27 September 2021, the company had entered into a binding agreement for the
purchase of the shares in Broken Hills Historic Mine Limited. The Final purchase price of the shares
in Broken Hills Historic Mine Limited was $750,000. Settlement, along with a final payment, of this
share purchase was due to be completed by 31 December 2021. All associated costs were recorded as
investment in unlisted companies until the company gains control of Broken Hills Historic Mine Limited at
which point, the financial statements of Broken Hills Historic Mine Limited were to be consolidated with
the rest of the Group. As outlined under Note 15 of the financial statements, a further announcement
was released on 25 November 2021 notifying the termination of the agreement of the Sale and Purchase
of Broken Hills Historic Mine Limited. This termination has been reflected in these financial statements
and the original cost value of the Broken Hills Historic Mine Limited of $512,367 has been written off.
The treatment of this cost value are as follows:
Cancellation of the 80 million New Talisman Gold Mine Limited shares issued$400,000
Funds being recuperated from Broken Hills Historic Mine Limited and has been
treated as Sundry Debtors
$100,000
Loss on investment for the period$12,367
Total cost value$512,367
9. Right of Use Assets
The company has recognised a right of use asset for the lease of the premises situated at 547 Parnell
Road, Auckland which is for a three year period commencing on 6 October 2020.
Movements in right of use assets are summarised below:
Right of Use Assets6 months
30-Sep-21
$NZ
Year ended
31-Mar-21
$NZ
6 months
30-Sep-20
$NZ
Opening balance64,539--
Additions-74,624-
Depreciation charge(12,101)(10,085)-
Balance at end of period52,43864,539-
A lease commitment has been recognised on the above right of use asset. Movements in the lease
liability are summarised below:

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 13
Lease Liability6 months
30-Sep-21
$NZ
Year ended
31-Mar-21
$NZ
6 months
30-Sep-20
$NZ
Opening balance65,446--
Leases entered into during the year-74,624-
Interest expense1,5131,483
Principal repayments(13,433)(10,661)-
Balance at end of period53,52665,446-
Short term lease liabilities24,75124,141-
Long term lease liabilities28,77541,305-
53,52665,446-
10. Mining Tenements
Talisman Mine Development6 monthsYear ended6 months
30-Sep-2131-Mar-2130-Sep-20
$NZ$NZ$NZ
Opening balance13,699,68813,143,90113,143,901
Prior Period Adjustment (refer to note 4)(314,275)--
Development expenditure240,509549,787284,964
Mining exploration costs released---
Balance at end of period13,625,92213,699,68813,428,865
Development expenditure consists of mining development costs, professional salaries, data acquisitions
and a small portion of overhead expenses relating to the operation of the mine. Management assesses
the allocation of directly attributable overheads at the end of each reporting date. Management also
assesses the carrying value of development expenditure to ensure it represents the fair value of the mine
development asset. An independent Technical Valuation of the Talisman Gold Project was provided
by Geos Mining Minerals Consultants as at 30 September 2021. They concluded that a preferred
valuation of the Project was NZ $15.6 million. This valuation exceeds the carrying amount of Assets
under construction as at 30 September 2021 of $13,625,922. No impairment by directors of Assets under
construction has been made as a consequence of this independent valuation.

14 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021
11. Reconciliation of net loss and operating cash flow
6 months
Sep 2021
$NZ
Unaudited
6 months
Sep 2020
$NZ
Unaudited
Net loss after taxation
(537,429)(401,201)
Add non-cash items:
Depreciation
27,34615,951
Exchange (gain)/loss
(8,445)(12,300)
Impairment of Prospecting Costs
--
Loss on disposal of investments (refer to note 8)
12,367-
Loss / (Gain) on revaluation of shares
(8,706)(4,545)
22,561(894)
Add (less) movement in working capital:
Decrease (increase) in debtors
(5,673)-
Increase (decrease) in creditors
17,77064,603
Decrease (increase) in inventories
--
Decrease (increase) in accrued income
-(54,540)
Decrease (increase) in Prepayments
24,39033,415
Decrease (increase) in Income Tax
-2,529
Decrease (increase) in GST
(23,755)(1,609)
12,73244,398
Net cash outflows from operating activities
(502,135)(357,697)
12. Expenses
A percentage of certain expenses including wages, consulting fees and other operational expenditure
are capitalised to exploration tenements and assets under construction based on a calculation prepared
by management which is reviewed at each reporting date.
13. Commitments
Capital commitments at the end of the period were $nil.
14. Going concern
The financial report has been prepared on a going concern basis. The directors have declared that
financial obligations can continue to be met as and when they fall due.
15. Events subsequent to balance date
As announced on 28 October 2021, the company had received a claim of $892,000 against the company
from Mr Matthew Hill in relation to a constructive dismissal. The company considers the claim has no
merit. No provision has been recorded in the financial statements in relation to this matter.

HALF YEARLY REPORT 2021
NEW TALISMAN GOLD | 15
There were a number of retirements, and subsequent appointment of directors, which occurred after 30
September 2021. Please refer to note 16 for further information.
As announced on 25 November 2021, the company had terminated the agreement of the Sale and
Purchase of Broken Hills Historic Mine Limited, as the condition of obtaining consent under the Crown
Minerals Act 1991 by 31 December 2021 has become incapable of being satisfied. As part of this
termination, 80 million shares valued at $400,000 has subsequently been cancelled. This termination has
been reflected in these financial statements.
No other material events occurred after balance date.
16. Related Party Transactions
Payments for consulting services to companies in which directors and major shareholders have a
substantial interest amounted to NZ$177,413 and is broken down as follows:
DirectorAmount Paid
M G Hill$162,000
M R Stevens$15,413
Director fees of $42,326 were payable at the end of the reporting period. Related party receivables at
balance date were $7,395.
The former NTL Board agreed to purchase Capella Vanuatu during 2020. Mr M R Stevens was a member
of the NTL Board during the relevant time. Mr M R Stevens was also engaged by Canterbury Resources
Limited in relation to the sale of Capella Vanuatu Limited. The current NTL Board is currently reviewing
the transaction.
There were no related party debts written off during the reporting period.
17. Board Appointments and Retirements
Mr Alexander Rabone and Ms Kelly Wyse were appointed as directors on 13 September 2021. The
election of Ms Wyse as director at the company’s annual general meeting was not resolved and she has
subsequently resigned as director. Mr John Upperton was appointed as director on 29 September 2021.
There were no other changes to the board of directors during this period.
Further to the public announcements, Mr Murray Stevens resigned as director on 6 October 2021, Mr
Charbel Nader resigned as director and chair on 8 October 2021, and Mr Matthew Hill resigned as
director on 8 October 2021. Mr John Upperton was elected chair on 11 October 2021. Mr Michael
Stiassny and Ms Samantha Sharif were appointed directors on 1 November 2021. There have been no
other changes to the board of directors subsequent to balance date.

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HALF YEARLY REPORT 2021

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NEW TALISMAN GOLD | 17

18 | NEW TALISMAN GOLD
HALF YEARLY REPORT 2021

www.newtalisman.co.nz
COMPANY DIRECTORY
DIRECTORS
John Upperton (Chairman, Independent)
Samantha Sharif (Independent Director)
Michael Stiassny (Independent Director)
Victor Rabone (Director)
COMPANY SECRETARY
S Jane Bell
Registered (Head) Office
547 Parnell Road, Parnell
Auckland, New Zealand
Telephone (+64 9) 303-1893
Email: info@newtalisman.co.nz
Website: www.newtalisman.co.nz
PRINCIPAL OFFICE IN AUSTRALIA
1st Floor, 25 Richardson Street
West Perth
Western Australia 6005
Telephone (+61 8) 9481-2040
Facsimile (+61 8) 9481-2041
BANKERS
Westpac Bank, Auckland
National Australia Bank, West Perth
AUDITORS
Scott Bennison
c/- K S Black & Co
Level 5
350 Kent Street,
Sydney, 2000
SOLICITORS
Chapman Tripp, Auckland
Williams & Hughes, Perth
SECURITIES LISTED
New Zealand Stock Exchange
Code: Shares NTL; Options NTLOB
Australian Securities Exchange
Code: Shares NTL; Options NTLOB
SHARE REGISTRARS
New Zealand:
Computershare Investor Services Limited
Private Bag 92119
Auckland 1142
159 Hurstmere Road
Takapuna, Auckland 0622
New Zealand
Telephone (+64 9) 488-8777
Facsimile (+64 9) 488-8787
Australia:
Computershare Investor Services Pty Limited
Yarra Falls
452 Johnston Street
Abbotsford Victoria 3067, Australia
Telephone 1300 850 505
Overseas callers (+61 3) 9415-4000
Managing your shareholding online:
To change your address, update your payment
instructions and view your investment portfolio
including transactions please visit
www.computershare.co.nz/investorcentre
General enquiries can be directed to:
enquiry@computershare.co.nz
Please assist our registrar by quoting your CSN or
shareholder number